Best to find out the exact process used to make it hard before starting work. Depends on the age and breed of the machine. On anything reasonably old a drive shaft is more likely to have been case hardened, nitrided or similar surface treatment rather than through hardened by heat treatment.
Through hard components tend not to deal well with millions of torque reversal and have a short critical crack length also if a crack does start rapid failure is likely. Not good for a drive shaft.
Generally surface layer hardening treatments can't be (simply) undone. I have ripped a case hardening layer off by seriously leaning on the component with a carbide tool. Tool was pretty much ruined in the process but it got under the skin allowing the core to be trimmed up and a hard tube loctite fitted to repair. All at customers own risk!
If it is truly hard I doubt that a Myford will cope. Best to find someone with grinding facilities really.
if its modern no telling what it is or how its made. Some very sophisticated metallurgy on the mass production lines these days.
Clive.
Edited By Clive Foster on 18/12/2018 20:17:37